I have extensive knowledge of the SoMD real estate investment landscape.I also run the Southern Maryland Real Estate Investors' Group (SOMDREIG), Southern MD's REIA.  

Granted, I know that there is still a substantial amount of work that needs to be done but once a contract is signed, I'll receive steady income (given that I did the due diligence of finding a reliable tenant) every month without having to do any more extensive work until I want to find my next deal.

I am new to apartment investing and I'm ready to take down my first deal (in spirt, no actual deal yet).About me: SFH experience, working towards getting CO broker's license, wife is a residential broker, 10+ years of project management experience in heavy civil and commercial construction (projects ranged from $140M - $40k), degree in Civil Engineering, extensive business development experience, creative win-win negotiator, and I am ecstatic about buying apartments (it just makes sense on so many levels)I have connected with a local mentor/sponsor and we are looking for 50-100 unit buildings (Type C to B) along the Front Range.

Five borings were taken; one at each corner of the ranch structure and one was taken in the rear yard......The site has very extensive fill to depths of 30-35 feet.

I was able to see in the windows and didn't see extensive damage.I was pleasantly surprised when I gained access this weekend.

Bank asked me to handle and is working on extension of my mortgage.

But in a situation where there is anything unique about the transaction, and DEFINITELY with any commercial transaction requiring more extensive DD, or anything outside the standard form, you should just do an LOI until your lawyer gets the deal.

the date to close expired on your contract the seller would have to sign an extension according to what you stated 

You can have in the offer that seller cannot negotiate a lease extension without your approval while under contract.Are you paying all cash or trying to get a loan with some down?

I spent extensive time working with a PM client and setting up the structure of their accounting system.